H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks February 6, 2003 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions Week ended Change from week ended Wednesday at Federal Reserve Banks Feb 5, 2003 Jan 29, 2003 Feb 6, 2002 Feb 5, 2003 Reserve Bank credit 694,493 + 3,899 + 64,779 687,819 Securities held outright 629,415 - 1 + 67,279 629,411 U.S. Treasury1 629,405 - 1 + 67,279 629,401 Bills2 226,682 0 + 37,791 226,682 Notes and bonds, nominal2 389,219 0 + 27,109 389,219 Notes and bonds, inflation-indexed2 12,242 0 + 2,056 12,242 Inflation compensation3 1,261 - 2 + 322 1,257 Federal agency2 10 0 0 10 Repurchase agreements4 24,393 + 4,250 - 4,214 27,750 Loans to depository institutions 15 - 37 - 7 15 Primary credit 11 - 34 + 11 13 Secondary credit 0 0 0 0 Seasonal credit 4 - 3 - 12 2 Adjustment credit 0 0 - 6 0 Float 596 - 167 - 361 -9,630 Other Federal Reserve assets 40,074 - 146 + 2,082 40,273 Gold stock 11,043 0 - 2 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 34,598 + 14 + 1,127 34,598 Total factors supplying reserve funds 742,333 + 3,913 + 65,904 735,659 Currency in circulation5 675,778 + 1,009 + 43,935 677,992 Reverse repurchase agreements6 18,483 + 86 + 18,483 17,986 Foreign official and international accounts 18,483 + 86 + 18,483 17,986 Dealers 0 0 0 0 Treasury cash holdings 360 0 - 54 356 Deposits with F.R. Banks, other than reserve balances 16,456 - 1,578 + 791 16,782 U.S. Treasury, general account 5,392 - 1,770 - 804 5,664 Foreign official 108 - 6 - 82 148 Service-related 10,724 + 186 + 1,707 10,724 Required clearing balances 10,356 + 1 + 1,704 10,355 Adjustments to compensate for float 368 + 185 + 3 368 Other 232 + 11 - 30 246 Other liabilities and capital 19,513 - 360 + 1,974 19,274 Total factors, other than reserve balances, absorbing reserve funds 730,590 - 842 + 65,129 732,390 Reserve balances with Federal Reserve Banks 11,743 + 4,755 + 775 3,270 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 865,366 + 7,539 . . . 868,037 U.S. Treasury 696,000 + 7,287 . . . 697,891 Federal agency 169,367 + 253 . . . 170,145 Securities lent to dealers 408 + 51 - 1,245 922 Note: Components may not sum to totals because of rounding. . . . Not available. 1. Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury securities. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 5. Estimated. 6. Cash value of agreements, which are collateralized by U.S. Treasury securities. 7. Includes U.S. Treasury STRIPS and other zero coupon bonds at face value. Sources: Federal Reserve Banks and the U.S. Department of the Treasury.

H.4.1 2. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Change since Eliminations from Assets, liabilities, and capital consolidation Wednesday Wednesday Wednesday Feb 5, 2003 Jan 29, 2003 Feb 6, 2002 Assets Gold certificate account 11,039 0 - 5 Special drawing rights certificate account 2,200 0 0 Coin 1,134 + 23 - 28 Securities, repurchase agreements, and loans 657,177 + 7,250 + 64,116 Securities held outright 629,411 - 5 + 65,881 U.S. Treasury1 629,401 - 5 + 65,881 Bills2 226,682 0 + 36,897 Notes and bonds, nominal2 389,219 0 + 26,603 Notes and bonds, inflation-indexed2 12,242 0 + 2,056 Inflation compensation3 1,257 - 6 + 323 Federal agency2 10 0 0 Repurchase agreements4 27,750 + 7,250 - 1,750 Loans 15 + 4 - 15 Items in process of collection (1,242) 8,959 - 291 - 625 Bank premises 1,539 - 4 + 29 Other assets5 38,611 - 136 + 1,799 Total assets (1,242) 720,659 + 6,841 + 65,285 Liabilities Federal Reserve notes, net of F.R. Bank holdings 644,880 + 2,276 + 42,442 Reverse repurchase agreements6 17,986 - 480 + 17,986 Deposits (0) 29,814 + 4,143 + 2,835 Depository institutions 23,756 + 5,429 + 2,999 U.S. Treasury, general account 5,664 - 1,366 + 288 Foreign official 148 + 48 - 446 Other (0) 246 + 32 - 7 Deferred availability cash items (1,242) 8,704 + 1,201 + 208 Other liabilities and accrued dividends7 2,231 - 11 - 69 Total liabilities (1,242) 703,616 + 7,130 + 63,402 Capital accounts Capital paid in 8,404 + 5 + 967 Surplus 8,380 0 + 1,111 Other capital accounts 260 - 292 - 194 Total capital 17,043 - 289 + 1,883 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury securities. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 5. Includes assets denominated in foreign currencies, which are revalued daily at market exchange rates. 6. Cash value of agreements, which are collateralized by U.S. Treasury securities. 7. Includes exchange-translation account reflecting the daily revaluation at market exchange rates of foreign exchange commitments. 3. Maturity Distribution of Loans and Securities, February 5, 2003 Millions of dollars U.S. Treasury Federal agency Reverse securities1 securities Repurchase Maturity Loans repurchase Weekly Weekly agreements2 Holdings Holdings agreements2 changes changes Within 15 days 13 45,981 - 3,611 0 0 24,750 17,986 16 days to 90 days 2 134,667 + 3,958 0 0 3,000 0 91 days to 1 year 0 142,243 - 964 10 0 . . . . . . Over 1 year to 5 years . . . 175,434 + 616 0 0 . . . . . . Over 5 years to 10 years . . . 51,239 - 1 0 0 . . . . . . Over 10 years . . . 79,837 - 3 0 0 . . . . . . All 15 629,401 - 5 10 0 27,750 17,986 Note: Components may not sum to totals because of rounding. . . . Not applicable. 1. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities. 2. Cash value of agreements classified by remaining maturity of the agreements.

H.4.1 4. Statement of Condition of Each Federal Reserve Bank on February 5, 2003 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Assets Gold certificate account 11,0 3 9 5 3 3 4,3 6 4 4 3 0 5 2 2 8 1 9 9 2 6 1,0 8 0 3 4 6 1 7 9 3 0 9 4 8 5 1,046 Special drawing rights certificate acct. 2,2 0 0 1 1 5 8 7 4 8 3 1 0 4 1 4 7 1 6 6 2 1 2 7 1 3 0 6 6 9 8 234 Coin 1,1 3 4 5 3 4 0 6 6 5 2 1 6 2 1 2 4 1 4 8 6 6 4 1 7 8 1 7 9 125 Securities, repurchase agreements, and loans 657,1 7 7 36,0 6 2 275,3 9 9 24,2 0 3 34,7 3 0 49,0 9 0 44,8 2 7 74,0 6 9 22,3 8 1 9,8 4 1 18,6 0 6 13,9 6 9 54,002 Securities held outright 629,4 1 1 36,0 6 2 247,6 4 9 24,2 0 3 34,7 2 8 49,0 9 0 44,8 1 7 74,0 6 9 22,3 8 0 9,8 3 9 18,6 0 5 13,9 6 9 54,001 U.S. Treasury1 629,4 0 1 36,0 6 1 247,6 4 5 24,2 0 2 34,7 2 7 49,0 8 9 44,8 1 6 74,0 6 8 22,3 8 0 9,8 3 9 18,6 0 5 13,9 6 9 54,000 Bills2 226,6 8 2 12,9 8 8 89,1 9 1 8,7 1 7 12,5 0 7 17,6 8 0 16,1 4 1 26,6 7 6 8,0 6 0 3,5 4 4 6,7 0 1 5,0 3 1 19,448 Notes and bonds3 402,7 1 9 23,0 7 4 158,4 5 4 15,4 8 6 22,2 2 0 31,4 0 9 28,6 7 5 47,3 9 2 14,3 2 0 6,2 9 6 11,9 0 4 8,9 3 8 34,552 Federal agency2 1 0 1 4 0 1 1 1 1 0 0 0 0 1 Repurchase agreements4 27,7 5 0 0 27,7 5 0 0 0 0 0 0 0 0 0 0 0 Loans 1 5 0 0 0 2 0 1 0 0 0 1 0 0 2 Items in process of collection 10,2 0 1 4 9 6 8 1 0 5 3 0 6 7 1 7 6 2 9 3 0 8 2 8 7 4 3 4 8 2 5 7 2 3 8 3 2,993 Bank premises 1,5 3 9 9 1 1 8 6 5 0 1 5 2 1 2 9 2 7 9 1 1 6 4 4 1 2 6 5 0 1 4 1 176 Other assets5 38,6 1 1 1,9 4 3 13,5 2 7 1,2 3 1 2,5 0 1 5,8 8 7 2,3 3 5 3,8 9 1 1,0 8 0 1,0 1 1 9 7 9 8 4 8 3,378 Interdistrict settlement account 0 - 5,9 7 9 +35,2 5 3 - 7,2 4 2 - 6,1 5 5 - 3,2 2 8 - 4,6 5 3 -16,8 1 5 - 4,2 6 3 + 3,4 3 9 - 1,7 3 2 +13,8 1 4 - 2,439 Total assets 721,9 0 1 33,3 1 5 330,4 5 2 19,3 5 0 32,5 7 7 53,7 6 8 44,9 3 3 63,5 2 8 20,4 6 8 15,1 5 0 18,9 2 8 29,9 1 7 59,515 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury securities. 2. Face value of the securities. 3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities. 4. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 5. Includes assets denominated in foreign currencies, which are revalued daily at market exchange rates.

H.4.1 4. Statement of Condition of Each Federal Reserve Bank on February 5, 2003 (continued) Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco Liabilities Federal Reserve notes outstanding 760,40 0 32,8 2 4 333,3 9 1 25,0 7 7 32,3 5 1 53,8 8 4 58,2 3 6 63,5 7 5 21,8 2 9 14,9 5 1 20,8 7 0 36,2 1 0 67,203 Less: notes held by F.R. Banks 115,52 0 5,0 5 2 27,2 9 1 8,0 6 7 4,9 7 2 8,9 2 3 18,5 7 8 8,1 5 2 3,4 9 5 1,9 6 2 4,3 4 9 8,4 9 5 16,186 Federal Reserve notes, net 644,88 0 27,7 7 2 306,1 0 1 17,0 1 0 27,3 7 9 44,9 6 1 39,6 5 7 55,4 2 4 18,3 3 4 12,9 9 0 16,5 2 2 27,7 1 5 51,017 Reverse repurchase agreements1 17,98 6 1,0 3 1 7,0 7 7 6 9 2 9 9 2 1,4 0 3 1,2 8 1 2,1 1 7 6 4 0 2 8 1 5 3 2 3 9 9 1,543 Deposits 29,81 4 2,7 9 0 11,6 9 6 5 6 0 2,1 1 0 2,3 1 6 1,8 6 0 3,1 6 5 6 2 2 4 9 3 9 9 8 7 7 8 2,426 Depository institutions 23,75 6 2,7 8 6 5,7 5 6 5 5 9 2,1 0 7 2,2 2 2 1,8 5 7 3,1 6 1 6 2 1 4 9 2 9 9 6 7 7 7 2,422 U.S. Treasury, general account 5,66 4 0 5,6 6 4 0 0 0 0 0 0 0 0 0 0 Foreign official 14 8 2 1 2 4 1 3 7 2 3 1 1 1 1 3 Other 24 6 2 1 5 2 0 0 8 7 1 1 1 0 1 0 1 Deferred availability cash items 9,94 6 7 0 4 1,1 2 0 5 1 2 5 4 8 6 8 3 9 9 9 8 3 9 3 6 3 6 2 3 3 7 8 5 6 1 2,616 Other liabilities and accrued dividends2 2,23 1 1 3 6 6 8 0 1 0 0 1 2 5 2 5 2 1 8 0 2 3 5 1 0 0 7 7 8 8 8 5 172 Total liabilities 704,85 8 32,4 3 3 326,6 7 4 18,8 7 3 31,1 5 4 49,6 1 5 43,9 7 7 61,7 8 0 20,0 5 8 14,4 6 4 18,5 1 8 29,5 3 7 57,774 Capital Capital paid in 8,40 4 4 3 7 1,8 0 9 2 3 4 7 0 8 2,0 7 9 4 7 5 8 6 1 2 0 0 3 4 1 2 0 4 1 8 8 868 Surplus 8,38 0 4 3 6 1,8 0 9 2 3 3 7 0 2 2,0 7 3 4 7 5 8 5 8 1 9 9 3 4 0 2 0 1 1 8 6 868 Other capital 26 0 8 1 6 0 1 0 1 4 0 6 3 0 1 0 6 6 5 5 Total liabilities and capital 721,90 1 33,3 1 5 330,4 5 2 19,3 5 0 32,5 7 7 53,7 6 8 44,9 3 3 63,5 2 8 20,4 6 8 15,1 5 0 18,9 2 8 29,9 1 7 59,515 Note: Components may not sum to totals because of rounding. 1. Cash value of agreements, which are collateralized by U.S. Treasury securities. 2. Includes exchange-translation account reflecting the daily revaluation at market exchange rates of foreign exchange commitments. 5. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Wednesday Federal Reserve notes and collateral Feb 5, 2003 Federal Reserve notes, net of F.R. Bank holdings 644,880 Collateral held against Federal Reserve notes 644,880 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 631,641 Other eligible assets 0 Memo: Total U.S. Treasury and agency securities1 657,161 Less: face value of securities under reverse repurchase agreements 17,992 U.S. Treasury and agency securities eligible to be pledged 639,169 Note: Components may not sum to totals because of rounding. 1. Includes face value of U.S. Treasury and agency securities held outright, compensation to adjust for the effect of inflation on the original face value of inflation-indexed securities, and cash value of repurchase agreements.